Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here is financial information for Vaughn Inc. Here is financial information for Vaughn Inc. December 31, 2022 December 31, 2021 Current assets $124,600 $100,000 Plant

Here is financial information for Vaughn Inc.

image text in transcribedimage text in transcribedimage text in transcribed

Here is financial information for Vaughn Inc. December 31, 2022 December 31, 2021 Current assets $124,600 $100,000 Plant assets (net) 395,010 330,000 Current liabilities 88,111 73,000 Long-term liabilities 135,198 87,000 Common stock, $1 par 166,838 119,000 Retained earnings 129,463 151,000 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) Increase or (Decrease) 2022 2021 Amount Percentage Assets Current assets $124,600 $100,000 $ % Plant assets (net) 395,010 330,000 % Total assets $519,610 $430,000 $ % Liabilities Current liabilities $88,111 $73,000 $ % Long-term liabilities 135,198 87,000 % Total liabilities 223,309 160,000 % Stockholders' Equity Common stock, $1 par 166,838 119,000 % Retained earnings 129,463 151,000 % Total stockholders' equity 296,301 270,000 % Total liabilities and stockholders' equity $519,610 $430,000 $ %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems A Practictioner Emphasis

Authors: Cynthia D. Heagy, Constance M. Lehmann

10th Edition

1891002821, 9781891002823

More Books

Students also viewed these Accounting questions